TotalEnergies Acquires Renewable Energy Company for 1.57 Billion Euros
SMM has learned that on December 4, Total announced an agreement with Swiss asset management company Partners Group to acquire German renewable energy project developer VSB Group for 1.57 billion euros. It is understood that VSB, headquartered in Germany, is one of Europe's leading renewable energy platforms, with a reserve of over 18 gigawatts of wind, PV, and battery energy storage projects, as well as a reserve of over 475 megawatts of self-operated (IPP) projects.
In addition, TotalEnergies signed an agreement with funds managed by Apollo to sell 50% of a portfolio of solar and battery energy storage system (BESS) projects located in Texas. This transaction will provide TotalEnergies with $800 million in cash.
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